Patni Scores Five Year Deal with U.S. Insurance Provider

Bangalore: Mid-sized software firm Patni Computer Systems Ltd said on Tuesday it won a multi-million dollar, five-year back- office outsourcing deal from US health insurance provider Universal American Corp.

The Pune-based firm will also acquire CHCS Services Inc., a back-office unit of Universal American in Pensacola, Florida, with 200 employees, for an undisclosed sum, the company said in a statement.

“The transaction would be closed in 30 days,” Robert A. Waegelein, executive vice-president and chief financial officer at Universal American, said over the phone. “All the people in the company (CHCS) will be employed by Patni.”

Waegelein declined to give the financial details for the deals.

Universal American has been Patni’s customer since 2005.

Patni will use CHCS, a third-party administrator for the insurance sector, for servicing other customers as well, said Waegelein.